• Transaction / Assets
  • Seller
  • Buyer
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Banco Sabadell Sells Its Receivables Management Business To Lindorff For €162 Million

23/12/2014 – Expansión

Sabadell has closed the sale of its unpaid debt management and collection business to Lindorff Spain for €162 million, a deal that will generate a gross gain for Sabadell of the same amount.

In a note to the Spanish National Securities Market Commission (CNMV), Sabadell has stated that, after obtaining the necessary authorizations, it has signed as of today a purchase agreement with the firm.

On July 28 this year, Sabadell announced this transaction, which is also supplemented by an agreement with a provision regarding a service of bad debts collection and management for an initial period of ten years.

Lindorff Group, a business group dedicated to collection management, currently has 3.500 employees in the eleven countries where it operates, among which are Norway, Finland , Sweden, Denmark, Russia, Germany and Spain.

Original article: Expansión (by EFE)

Translation: Aura REE